Young fights for biodiesel

Iowa Congressman David Young continued his fight to restore the biodiesel tax credit. In December, Congressman Young led 42 of his colleagues on a letter asking the leadership of the U.S. House of Representatives to advance a multi-year extension of the credit. 

Today, Congressman Young spoke on the floor of the U.S. House of Representatives about the need to extend the credit. A full video and transcript of the speech is available below. A digital copy is available HERE.

"Mr. Speaker, I rise today to call on my colleagues in Congress to extend the biodiesel and renewable diesel tax incentives through the end of this year.

"For many years, biodiesel producers, blenders, and marketers have endured inconsistent federal tax treatment while being asked to wait for a much needed thoughtful and comprehensive look at energy tax policy.

"We just celebrated the end of an old, outdated, and out-of-touch tax code and it’s time to deal with the last pieces of uncertainty.

"Biodiesel provides important environmental and economic benefits across the country, helps us reduce our reliance on foreign energy sources, and is a reliable source of American made energy. Production has long been stymied by the on-again, off-again policy Congress has been implementing and we must provide certainty to the markets and to all the producers, blenders, and marketers whose livelihood depends on biodiesel.

"Mr. Speaker, I ask my colleagues to join me and extend the biodiesel and renewable diesel tax incentives through the end of this year and work with me and others in a bipartisan way to find a more permanent solution to this system of irresponsible stop-gap tax extensions. I yield back."